Satellogic (NASDAQ:SATL) Major Shareholder Fitzgerald Cantor Sells 388,827 Shares

Satellogic Inc. (NASDAQ:SATL) major shareholder Fitzgerald Cantor sold 388,827 shares of the business’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $5.63, for a total value of $2,189,096.01. Following the sale, the insider owned 12,862,075 shares in the company, valued at approximately $72,413,482.25. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Satellogic Stock Down 12.2%

Shares of SATL stock opened at $4.60 on Friday. The stock has a market cap of $623.16 million, a P/E ratio of -19.17 and a beta of 1.36. Satellogic Inc. has a fifty-two week low of $1.25 and a fifty-two week high of $5.93. The business has a fifty day simple moving average of $2.64 and a 200-day simple moving average of $2.93.

Satellogic (NASDAQ:SATL) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.02) EPS for the quarter. The company had revenue of $3.63 million for the quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Craig Hallum assumed coverage on shares of Satellogic in a research note on Wednesday, January 21st. They set a “buy” rating and a $5.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Hedge Funds Weigh In On Satellogic

A number of institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new stake in Satellogic during the second quarter worth approximately $25,000. Farther Finance Advisors LLC purchased a new position in shares of Satellogic during the 3rd quarter worth $26,000. Legal & General Group Plc acquired a new stake in shares of Satellogic during the second quarter worth $27,000. LMR Partners LLP purchased a new stake in shares of Satellogic in the second quarter valued at $30,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Satellogic in the third quarter valued at $33,000. Institutional investors and hedge funds own 17.58% of the company’s stock.

Satellogic Company Profile

Satellogic Inc is a NewSpace company specializing in the design, manufacture and operation of a low‐Earth‐orbit (LEO) microsatellite constellation. The company’s satellites capture high‐resolution multispectral imagery, enabling detailed monitoring of agricultural, forestry, maritime, energy and infrastructure assets. Satellogic’s vertically integrated model covers end‐to‐end capabilities, from satellite development and deployment to data processing and analytics, allowing clients to access imagery and insights on demand.

Key offerings include geospatial data products, analytics services and software tools that leverage machine learning algorithms to interpret changes on Earth’s surface.